Statutorily Deficient ERISA ?º 204(h) Notice Not ?Ç£Egregious?Ç¥ to Support Restoration of Benefits Under Defined Benefit Plan
An employer converted its traditional defined benefit plan to a ?Ç£cash balance?Ç¥ plan. ?áThe conversion eliminated early retirement subsidies, among other things, and employees sued for restoration of the early retirement benefits, alleging the employer?ÇÖs ?Ç£204(h) notice?Ç¥ did not adequately describe the preexisting subsidies. ?áThe 10th Circuit Court of Appeals held the defect was not ?Ç£egregious?Ç¥ (as defined in ERISA?á?º?á204(h)); therefore, restoration of the removed benefits was not required under ?º 204(h).?á?á Jensen v. Solvay Chemicals, Inc., No. 11-8092 (10th Cir. July 2, 2013).